"Whilst month-on-month rental averages continue to mirror the seasonal ebbs and flows we’d expect of the market (particularly in the winter months), the uptick in the pace of annual rental inflation shows that supply and demand pressures aren’t abating"
- William Reeve - Goodlord
The average cost of rent fell again in November, marking the fourth monthly decline on the bounce and reflecting a seasonal slowdown ahead of Christmas.
The Goodlord Rental Index shows that rents across England declined by more than 2% during the month, while voids rose by 14% in what is typically a quieter period. However, year-on-year figures continue to point to stronger underlying demand, even as monthly activity softens.
Rents drop for fourth month
The average rent across England decreased by 2.4% in November, falling from £1,276 in October to £1,245. This marks the fourth monthly decline since July, when the average reached £1,496.
The continued reductions mean renters securing a tenancy in November are paying £3,012 less per year, or £251 less per month, than those who signed agreements at the July peak.
Most regions recorded declines. Greater London saw the sharpest drop, with rents 4.5% lower than in October. The North West followed with a 4.3% reduction.
The only region posting a small increase was the West Midlands, where the uplift amounted to less than £1 on average.
Year-on-year rents continue to rise
Year-on-year rental inflation is gaining momentum. Compared with November last year, the average rent is 3.3% higher, rising from £1,205 in 2024 to £1,245 in 2025.
This pace has accelerated from October’s 3.1% and sits well above September’s 2%.
The North West recorded the strongest annual increase at 6.6%, followed by the North East at 5%.
These year-on-year gains suggest the possibility of new rental benchmarks in 2026.
Voids lengthen during the month
Voids extended from 21 to 24 days in November, representing a 14% increase that aligns with declining rental averages.
They are also longer than in November 2024, when voids averaged 21 days.
The West Midlands now records the longest void periods at 30 days. London continues to see the shortest gaps between tenancies at 20 days.
“We are seeing a pattern develop across these critical figures,” commented William Reeve, CEO of Goodlord. “Whilst month-on-month rental averages continue to mirror the seasonal ebbs and flows we’d expect of the market (particularly in the winter months), the uptick in the pace of annual rental inflation shows that supply and demand pressures aren’t abating. This could point towards new rental records being set next year and another intense year for the market, particularly as the Renters’ Rights Act comes into effect.”
